Women may make up almost half of the Canadian workforce but they are still knocking at the glass ceiling to get into management.

That's one of the findings of the 91原创 Women's Business Network (LWBN) study. The group, created through the Greater 91原创 Chamber of Commerce, has released its State of Canadian Women in Business research report to mark its first anniversary.

鈥淪upporting women means recognizing both their current representation and the barriers they face. The insights from this report will shape our future actions as we advocate for women across all sectors and stages of business,鈥� said Laurie Shopland, chair of the LWBN Steering Committee.

The research report provides insights into how far women have come come on gender parity in the business community, highlighting both the progress made and the challenges that remain in achieving gender equity in senior management roles, business ownership, and other key economic metrics. There's still work to be done.

Women make 83 cents for every $1 a man makes.

Women make up 39 per cent of management in this province but nationally, the average is 35.6 per cent.

Fewer than one in five businesses are majority women-owned with stark differences depending on the industry or sector. In retail, the figure is 26.2 per cent while professional services drops to 20 per cent. Extractive and resource based businesses have 5.8 per cent majority women-owned while the figure is 3.7 per cent for construction.

Yet the impact women have on the overall economy is significant. According to the LWBN, women's contribution to the Gross Domestic Product (GDP) is about $637 billion dollars, and achieving gender parity could potentially add another $150 billion to the national economy. That's the equivalent of the combined economies of Manitoba, Saskatchewan, and Prince Edward Island.

The report reviewed research and literature on common barriers or obstacles to women's full representation in business and found three key challenges.

Women continue to struggle with work/life balance. For instance, women work an average of 1.2 hours more per day than men and also have the bulk of family and household responsibilities.

Another challenge is access to financing. Women-owned businesses must often self-finance due to difficulty getting funds and when they do request financing, their approval rates and amounts are significantly lower than for men in business.

Access to networks and mentors was another challenge cited in the report.

In the year since the network was created, it has hosted education, mentoring, and social events.

"The LWBN was established to create a dedicated space for women to mentor, educate, and network," Shopland explained.

The report was done to get the lay of the land so the group can focus its efforts. The report is available online, and the network and chamber plan to use it to advocate for support, and education to advance the interests of women in business.

鈥淚鈥檓 very proud of the 91原创 Women鈥檚 Business Network for spearheading this initiative,鈥� added Cory Redekop, CEO of the Greater 91原创 Chamber of Commerce. 鈥淏y identifying ongoing challenges women in business face and some potential solutions, we are moving towards a more inclusive and supportive business environment for all.鈥�